A&L lower fixed rates

By Ariane Buteux

11 Sep 2007

Available from 11 September, the new offers are available via the Bank's branches, Mortgage Direct and brokers and include:

Two year fixed 5.48% (previously from 5.59%)

7.8% APR. Fixed until 30 September 2009
Customers can borrow up to 95% of the property value
Product fee - £1,999
Early repayment charges apply until 30 September 2009
10% overpayment facility
Maximum loan £250,000

Two year fixed 5.73% (previously from 5.79%)

7.8% APR. Fixed until 30 September 2009
Customers can borrow up to 95% of the property value
Product fee - £999
Early repayment charges apply until 30 September 2009
10% overpayment facility
Maximum loan £250,000

Two year fixed 6.23% FeeSaver (previously from 6.34%)

7.9% APR. Fixed until 30 September 2009
Customers can borrow up to 95% of the property value
No product fee
Early repayment charges apply until 30 September 2009
Free valuation(1)
Remortgage customers receive £250 cashback or free Mortgage Transfer Service(2)
10% overpayment facility
Maximum loan £999,999

Five year fixed 6.12% (previously from 6.14%)

7.4% APR. Fixed until 30 September 2012
Customers can borrow up to 95% of the property value
Product fee - £599
Early repayment charges apply until 30 September 2012
10% overpayment facility
Maximum loan £999,999

Richard Taylor, head of mortgage products at Alliance & Leicester, said: "With all the talk of rising rates, Alliance & Leicester is delighted to be able to offer customers, both new and existing, these great lower rates, which are highly competitive.

"We continue to offer customers a wide range of products with a choice of fee level, in order for them to benefit from the best possible deal to suit them.

"These reductions in our fixed rates allow borrowers to benefit from the security of a fixed monthly payment at a great low rate. Our FeeSaver option continues to be a very popular choice for first time buyers and remortgage customers, who do not want any up-front fees."